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US Online Gambling Market to Grow 51% By 2020

WILL U.S. ONLINE GAMBLING MARKET GROW 51 PERCENT BY 2020?
 
New figures from research group Technavio make some bullish predictions.
 
A teaser press release from the independent research firm Technavio predicts that the online gambling market in the US will grow at an impressive CAGR (compound annual growth rate) of more than 51 percent between 2016 - 2020.
 
To calculate the market size, the report considers the revenue generated from legal online casino, betting, and lottery segments in the United States, along with primary market growth drivers, challenges faced by vendors and the market as a whole, and key trends emerging in the market.
 
In 2015, the US was ranked 8th in the global online gambling market, positioned after China, the UK, Australia, France, Italy, Germany, and Spain, Technavio claims, noting that whilst only three US states currently permit online gambling, more than five are likely to legalise the genre by 2020.
 
If online gambling is legalised, the tax contribution to the national revenue will grow significantly, and more joibs will be generated.
 
"The popularity of computing and mobile devices, especially among the younger generation, is the main reason for the extended reach of online gambling market in the US," Technavio reports.
 
"Mobile ads are one of the strongest mediums of advertising, which reaches the untapped group of the population that refrain from going to a casino or a bar where betting is allowed, and influences them to try online gambling."
 
The study found that in the United States, the average age of an individual visiting a casino is 45 years, whereas the average age of an online gambler is 34 years.
 
"The increasing presence of a younger population on the online gambling platforms will be one of the significant factors driving the growth of the market during the forecast period,” the research company opines.

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Gambling News :

Pokerstars Now Lead Sponsor of Global Poker League - Alex Dreyfuss Global Poker League has received a significant boost from the announcement by Dreyfuss Mediarex Sports and Entertainment company Friday that online pokers biggest operator, Pokerstars, has signed on as lead and exclusive GPL sponsor.

Betconstruch invests in Ucrafts - BetConstruct may have also been attracted by the obvious interest in Ucrafts business - the start-up has already gained 5,000 subscribers in just a few months of commercial activity.

Plus500 Founders Selling Off Shares - Alon Gonen and Gal Haber respectively sold 7.2 million shares, retaining a 10.4 percent interest in the company; and 2.6 million shares, retaining a smaller stake of just 3.6 percent.

Rush Golf Live Launches - Virtual sports provider Inspired Gaming has announced the launch of its latest product - Rush Golf Live - with Betfred the first operator to carry the game.

British Basketball League in Deal With Perform - The British Basketball League has agreed a six-year deal with Perform, a digital sports content and media group, for the distribution and sale of all global media-related rights.

Ashley Sandyford Sykes Sharing Slot Expertise - Sandyford-Sykes has experience in the development of over a hundred popular online slot titles and led the Quickfire development team at Microgaming.

2016 WPT National Marrakech High Roller Results - Spanish poker pro Nabil Cordoso boosted his career earnings by a useful $66,873 this week when he was awarded the first prize in the PMU.fr WPT National Marrakech High Roller event in Marrakech.

GreenTube and Chopsticks In Partnership - Novomatic Interactive subsidiary Greentube has announced that it has signed a partnership deal with the Gibraltar-based mobile app developer Chopsticks In The Apps Ltd through which it will organize distribution of Chopsticks games through its online, mobile, social and land-based channels.

DraftKings Investigating Collusion Complaint - The stigma of cheating has surfaced again in the daily fantasy sports sector following allegations that two players colluded in a million dollar contest at DraftKings.

Singapore Gambling Exemptions Granted - The issue of certain state-linked commercial organisations being granted exemptions from Singapores tough anti-online gambling laws has been on the table for the past few months and has been the subject of opposition complaints; protest petitions and general argument.

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